Zacks Investment Research upgraded shares of Amc Networks (NASDAQ:AMCX) from a sell rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “AMC Networks Inc. is engaged in producing programming and movie content. It owns and operates various cable televisions. Its programming networks include AMC, IFC, Sundance Channel, WE tv, and IFC films. The AMC is a television network which focuses on the original programming and movie-based entertainment. IFC creates long and short-form content inspired by music, web, gaming, animation, news, and culture. The Sundance Channel is the television destination for independent-minded viewers. The WE tv is the women’s network specially devoted to the relationships during life’s defining moments. The IFC films consist of multiple brands that bring specialty films to the largest possible audience. AMC Networks Inc. is headquartered in New York, New York. “
Several other equities research analysts also recently weighed in on the company. BidaskClub raised Amc Networks from a sell rating to a hold rating in a report on Friday, September 28th. Goldman Sachs Group downgraded Amc Networks from a neutral rating to a sell rating and set a $61.00 price target for the company. in a report on Thursday, October 4th. ValuEngine raised Amc Networks from a strong sell rating to a sell rating in a report on Monday, August 20th. JPMorgan Chase & Co. increased their price target on Amc Networks from $62.00 to $65.00 and gave the stock a neutral rating in a report on Friday, November 2nd. Finally, Deutsche Bank increased their price target on Amc Networks from $55.00 to $60.00 and gave the stock a hold rating in a report on Monday, November 5th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $62.20.
Shares of AMCX traded down $0.24 during mid-day trading on Tuesday, reaching $59.76. 627,439 shares of the company’s stock were exchanged, compared to its average volume of 835,879. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 10.69. The firm has a market cap of $3.44 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 0.80 and a beta of 0.79. Amc Networks has a 52-week low of $46.89 and a 52-week high of $69.02.
Amc Networks (NASDAQ:AMCX) last announced its earnings results on Thursday, November 1st. The company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.37. The business had revenue of $696.87 million for the quarter, compared to analyst estimates of $693.20 million. Amc Networks had a net margin of 17.76% and a return on equity of 221.77%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $1.68 earnings per share. As a group, equities research analysts forecast that Amc Networks will post 8.27 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. First Hawaiian Bank acquired a new stake in Amc Networks in the third quarter valued at $123,000. Advisors Preferred LLC lifted its holdings in Amc Networks by 265.9% in the second quarter. Advisors Preferred LLC now owns 2,009 shares of the company’s stock valued at $125,000 after acquiring an additional 1,460 shares during the period. Bank of Hawaii acquired a new stake in Amc Networks in the third quarter valued at $206,000. IFG Advisory LLC acquired a new stake in Amc Networks in the third quarter valued at $209,000. Finally, Piedmont Investment Advisors Inc. acquired a new stake in Amc Networks in the third quarter valued at $210,000. 84.49% of the stock is owned by hedge funds and other institutional investors.
About Amc Networks
AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.
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